Connect with us
Active Currencies 14759
Market Cap $2,546,073,674,424.30
Bitcoin Share 51.18%
24h Market Cap Change $2.02

Ethereum, Tezos, Maker Price Analysis: 05 November

2min Read
Ethereum, Tezos, Maker price analysis: November 5

Share this article

Out of Ethereum, Tezos, and Maker, only the king of altcoins has positive performance in the last month. ETH has seen a surge of 14.34% while XTZ and MKR are -15.76% and 8.49%.

Let’s take a look at these coins individually and if they are bullish or bearish.

Ethereum [ETH]

Source: ETHUSD TradingView

Ethereum 2.0 is very close to going live, perhaps, this is what’s causing the altcoin to surge. In fact, ETH has outperformed BTC not in terms of price but in terms of social volume.

Regardless, ETH has formed an ascending channel, which is bearish. However, it is important to note that Bitcoin is currently exploring a new high, last seen in 2018. Hence, if the FOMO steps in, we can expect this bearish pattern to be invalidated.

The RSI indicator fell perfectly in line with the price movements indicating buyers’ momentum with this surge. We can expect ETH to surge back to $450+ if BTC starts to surge.

Tezos [XTZ]

Source: XTZUSD TradingView

Tezos, unlike ETH or BTC, has been dropping constantly, however, despite its downtrend, it seems to be supported by a declining line [orange]. At press time, XTZ was trading at $1.848, however, the indicators indicate a bearish scenario for XTZ.

The MACD indicator showed the lines below the zero line. Albeit its bullish crossover, the surge doesn’t seem to be cemented. Adding more to this is the Stochastic RSI which indicates a bearish crossover.


Source: MKRUSD TradingView

Maker is trading at $527 with a market cap of $480 million. Regardless of its high price, the governance token has seen a brutal 3.1% drop in the last 7 days. At press time, MKR is in a rounded top pattern and has started its downtrend.

Moreover, it is forming a falling wedge, hence, this is a short-term bullish indicator. Additionally, the downtrend seems to be losing steam as indicated by the Aroon downline [red line] while the uptrend gains momentum [Aroon up-line, green].


Akash is a full-time cryptocurrency writer and an analyst at AMBCrypto. He is an engineering graduate with an avid interest in finance and economics. Attracted to the chaos of trading, Akash has invested in BTC, ETH and XRP for educational purposes.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.